Caseware UK (AP4) 2022.0.179 2022.0.179 2023-09-302023-09-30false2022-10-01falseNo description of principal activity1818trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02823445 2022-10-01 2023-09-30 02823445 2021-10-01 2022-09-30 02823445 2023-09-30 02823445 2022-09-30 02823445 c:Director4 2022-10-01 2023-09-30 02823445 c:Director5 2022-10-01 2023-09-30 02823445 d:MotorVehicles 2022-10-01 2023-09-30 02823445 d:MotorVehicles 2023-09-30 02823445 d:MotorVehicles 2022-09-30 02823445 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 02823445 d:FurnitureFittings 2022-10-01 2023-09-30 02823445 d:FurnitureFittings 2023-09-30 02823445 d:FurnitureFittings 2022-09-30 02823445 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 02823445 d:OfficeEquipment 2022-10-01 2023-09-30 02823445 d:OfficeEquipment 2023-09-30 02823445 d:OfficeEquipment 2022-09-30 02823445 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 02823445 d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 02823445 d:CurrentFinancialInstruments 2023-09-30 02823445 d:CurrentFinancialInstruments 2022-09-30 02823445 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 02823445 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 02823445 d:ShareCapital 2023-09-30 02823445 d:ShareCapital 2022-09-30 02823445 d:RetainedEarningsAccumulatedLosses 2023-09-30 02823445 d:RetainedEarningsAccumulatedLosses 2022-09-30 02823445 c:OrdinaryShareClass1 2022-10-01 2023-09-30 02823445 c:OrdinaryShareClass1 2023-09-30 02823445 c:OrdinaryShareClass1 2022-09-30 02823445 c:FRS102 2022-10-01 2023-09-30 02823445 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 02823445 c:FullAccounts 2022-10-01 2023-09-30 02823445 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 02823445 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 02823445 d:AcceleratedTaxDepreciationDeferredTax 2022-09-30 02823445 d:TaxLossesCarry-forwardsDeferredTax 2023-09-30 02823445 d:TaxLossesCarry-forwardsDeferredTax 2022-09-30 02823445 2 2022-10-01 2023-09-30 02823445 e:PoundSterling 2022-10-01 2023-09-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 02823445


WARD AERIALS (INSTALLATIONS) LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
WARD AERIALS (INSTALLATIONS) LIMITED
REGISTERED NUMBER:02823445

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible fixed assets
  
48,368
67,718

Current assets
  

Stocks
 5 
55,574
71,325

Debtors: amounts falling due within one year
 6 
179,838
199,757

Cash at bank and in hand
 7 
100,310
157,330

  
335,722
428,412

Creditors: amounts falling due within one year
 8 
(263,428)
(315,813)

Net current assets
  
 
 
72,294
 
 
112,599

Total assets less current liabilities
  
120,662
180,317

Provisions for liabilities
  

Deferred tax
 9 
(10,641)
(12,866)

  
 
 
(10,641)
 
 
(12,866)

Net assets
  
110,021
167,451


Capital and reserves
  

Called up share capital 
 10 
2
2

Profit and loss account
  
110,019
167,449

  
110,021
167,451


Page 1

 
WARD AERIALS (INSTALLATIONS) LIMITED
REGISTERED NUMBER:02823445
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Ms A D Ward
Mr S W Ward Jnr
Director
Director


Date: 20 February 2024
Date:20 February 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
WARD AERIALS (INSTALLATIONS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

Ward Aerials (Installations) Limited is a private company, limited by shares, incorporated in England within the United Kingdom. The address of the registered office is 181 Woodhouse Road, Friern Barnet, London, N12 9AY.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company
and rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have prepared the financial statements on a going concern basis as the shareholders have committed to providing financial support as required.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.
Page 3

 
WARD AERIALS (INSTALLATIONS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
WARD AERIALS (INSTALLATIONS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
30% written down value
Fixtures and fittings
-
20% written down value
Office equipment
-
20% written down value

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
WARD AERIALS (INSTALLATIONS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The
Page 6

 
WARD AERIALS (INSTALLATIONS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)

impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Page 7

 
WARD AERIALS (INSTALLATIONS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2022 - 18).


4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 October 2022
186,237
4,906
54,825
245,968


Additions
-
280
360
640


Disposals
(19,993)
-
-
(19,993)



At 30 September 2023

166,244
5,186
55,185
226,615



Depreciation


At 1 October 2022
125,956
4,379
47,915
178,250


Charge for the year on owned assets
18,042
161
1,451
19,654


Disposals
(19,657)
-
-
(19,657)



At 30 September 2023

124,341
4,540
49,366
178,247



Net book value



At 30 September 2023
41,903
646
5,819
48,368



At 30 September 2022
60,281
527
6,910
67,718


5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
55,574
71,325


Page 8

 
WARD AERIALS (INSTALLATIONS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
84,981
67,051

Amounts owed by group undertakings
50,795
55,489

Other debtors
28,480
61,865

Prepayments and accrued income
15,582
15,352

179,838
199,757



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
100,310
157,330



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,075
9,681

Amounts owed to group undertakings
213,377
256,367

Other taxation and social security
13,714
16,626

Other creditors
17,762
17,639

Accruals and deferred income
15,500
15,500

263,428
315,813


Page 9

 
WARD AERIALS (INSTALLATIONS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

9.


Deferred taxation

Movements on deferred tax.





2023


£






At beginning of year
(12,866)


Charged to profit or loss
2,225



At end of year
(10,641)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(12,866)
(10,164)

Charged to profit or loss
2,225
(2,702)

(10,641)
(12,866)


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2 (2022 - 2) Ordinary shares of £1.00 each
2
2



11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £11,555 (2022: £12,190). Contributions totalling £2,404 (2022: £2,710) were payable to the fund at the balance sheet date and are included in creditors.


12.


Ultimate parent company

Ward Aerials (Installations) Limited is a wholly owned subsidiary of Ward Aerials Limited, a company incorporated in England. The registered office is 181 Woodhouse Road, Friern Barnet, London, N12 9AY. The company was under the control of Mr S W Ward, a director, for the current and previous year.

 
Page 10